Petroleum products likely to become expensive again

Petroleum products in the country are likely to become expensive for the second consecutive time.

According to media reports, sources say that from November 16, the prices of petrol and high-speed diesel are likely to increase by about Rs 4 to 5 per liter, which is due to the import premium on petrol and the increase in prices in the international market. Because during the last 15 days, the average prices of petrol and high-speed diesel in the international market have increased by $ 1.7 and $ 4.4 per barrel, respectively.

Officials said that the average price of petrol in the international market has increased from $75.6 to about $77.2 per barrel. The price of diesel has increased from about $83.6 to $88 per barrel in the last fortnight.

The current ex-depot price of petrol in Pakistan is Rs 248.38 per liter and the price of high-speed diesel is Rs255.14 per liter.

It has been reported that the exchange rate of the currency has also increased against the rupee these days. The import premium on petrol is about one dollar per barrel. During the current fortnight, the import premium on petrol increased from 8.8 dollars to 9.8 dollars per barrel.

However, for diesel, it remained at 5 dollars per barrel. Based on the final exchange rate calculation and the current tax rates, the prices of petrol and high-speed diesel are likely to increase by 4 and 5 rupees per liter respectively, which will be the second consecutive increase in prices.

Earlier, the government had increased the prices of petrol and high-speed diesel by 3 rupees 85 paise and 1 rupee 35 paise per liter respectively on October 31.